- The Boards of Noxopharm (NOX) and Nyrada have received full commitments for the $8.5 million IPO
- Noxopharm was advised by Lead Manager, Alto Capital that the IPO has been fully allocated and reconciliation of funds are underway
- Nyrada is currently in discussions with the ASX for confirmation of conditional approval requirements
- Noxopharm’s share price is up a steady 13.7 per cent with shares trading for 29 cents apiece
The Boards of both Noxopharm (NOX) and Nyrada have received commitments for the maximum subscription of the Nyrada IPO.
Noxopharm has been advised by the Lead Manager, Alto Capital, the $8.5 million IPO (initial public offer) has been fully allocated and final reconciliation of funds are underway.
Formal closure of the offer is expected before Christmas.
Nyrada has confirmed the minimum subscription of $7 million has been received and is being held in trust.
Nyrada is currently in discussions with the Australian Securities Exchange (ASX) regarding confirmation of conditional approval requirements.
However, notes that further recent ASX correspondence, conditional approval and an ASX listing of Nyrada is now expected in January 2020.
Nyrada is a pre-clinical stage, drug development company specialising in the development of novel small molecule drugs relating to cardiovascular, neurodegenerative and chronic inflammatory diseases.
The company’s vision is to become a high growth bio-pharmaceutical company specialising in drug discovery and early stage drug development.
Its primary focus is on areas with unmet clinical need where, if any, effective or well-tolerated therapies exist.
If required, further updates regarding the IPO will be provided by the Board.
Noxopharm’s share price is up a steady 13.7 per today with shares trading for 29 cents apiece at 1:12 pm AEDT.